A Hole in His Parachute Essay Example | Topics and Well Written Essays - 500 words

A Hole in His Parachute - Essay Example On the other hand, stockholders are those that have shares in a company and are directly affected by the ups and downs of the market affecting their operation as a business. A corporation being a creature of law cannot refuse to abide by the acts of its incumbents as long as it is being provided by the general law in business and ethics. With all these said, the lawful and right decision of whether to give Knight the right to collect the balance of the salary from the corporation which Murdoch promised to give him while he serves as adviser to the newspaper company for five years strongly relies on the intricacy of laws behind the accountability of Murdoch, the new owner of Knight-Ridder Corporation towards his stakeholders, which includes employees. In this case, because Knight had a sort of proprietorship of the company because he is providing his services for it, he has the right to run after Murdoch and get his salary even when the company has already been dissolved before any amount was given to him. This is because of the fact that any company has the responsibility to be able to deliver on every provision that is stated in any contract relating to Knight’s employment, which would hold his right to be paid the exact amount in exchange for completed work, whatever the circumstance is. Another point that would support Knight’s right to demand his salary from Murdoch would be the fact that it is being provided in Corporate law that the property and assets of a certain corporation includes not only the assets of any subsidiary of the corporation instead the whole entity comprising the company, directly or indirectly, that encompasses corporations, partnerships, and its liability partnerships which is where employees fall in. Thus, the dissolution of the company does not dissolve its obligation to pay Knight what is due